Martin D. Jr. Mcnulty Acquires 40,000 Shares of Acacia Research Co. (NASDAQ:ACTG) Stock

Acacia Research Co. (NASDAQ:ACTG – Get Rating) CEO Martin D. Jr. Mcnulty acquired 40,000 shares of the company’s stock in a transaction dated Wednesday, May 24th. The shares were bought at an average cost of $3.75 per share, with a total value of $150,000.00. Following the purchase, the chief executive officer now owns 100,000 shares in the company, valued at $375,000. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

Acacia Research Price Performance

NASDAQ ACTG opened at $3.93 on Friday. Acacia Research Co. has a 1-year low of $3.43 and a 1-year high of $5.30. The firm has a market capitalization of $230.10 million, a P/E ratio of -1.97 and a beta of 0.41. The business’s 50-day simple moving average is $3.87 and its 200-day simple moving average is $4.04.

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Acacia Research (NASDAQ:ACTG – Get Rating) last posted its quarterly earnings results on Thursday, March 16th. The business services provider reported $0.04 EPS for the quarter. Acacia Research had a negative net margin of 75.75% and a negative return on equity of 5.48%. The firm had revenue of $13.12 million for the quarter.

Hedge Funds Weigh In On Acacia Research

Several hedge funds and other institutional investors have recently made changes to their positions in ACTG. UBS Group AG increased its holdings in Acacia Research by 218.4% in the 3rd quarter. UBS Group AG now owns 7,348 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 5,040 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Acacia Research during the 1st quarter valued at about $43,000. Gateway Advisory LLC lifted its position in Acacia Research by 286.0% during the 1st quarter. Gateway Advisory LLC now owns 46,320 shares of the business services provider’s stock worth $46,000 after acquiring an additional 34,320 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in Acacia Research during the 1st quarter worth approximately $49,000. Finally, Tudor Investment Corp Et Al purchased a new position in Acacia Research in the 3rd quarter worth approximately $54,000. Institutional investors and hedge funds own 64.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. TheStreet lowered shares of Acacia Research from a “c-” rating to a “d+” rating in a research report on Thursday, April 13th. StockNews.com started coverage on shares of Acacia Research in a research note on Thursday, May 18th. They set a “sell” rating for the company.

Acacia Research Company Profile

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Acacia Research Corp. engages in acquisition and development, and patents technologies through its subsidiaries. It operates through the Intellectual Property and Industrial Operations segments. The Intellectual Property Operations segment invests in IP and related absolute return assets and engages in the licensing and enforcement of patented technologies.

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